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The rupee rose by 19 paise to Rs 54.99 against the US dollar in early trade today at the Interbank Foreign Exchange on the selling of American currency by exporters and banks.

Besides, a higher opening in the domestic equity market and strengthening of euro against the dollar overseas supported the rupee, dealers said.

Meanwhile, the BSE benchmark index Sensex rose by 56.22 points, or 0.30 per cent, to 18,365.59.

The rupee had lost 46 paise to close at two-month low of 55.16 against the dollar in the previous session on Friday on the back of heavy demand for the American currency from importers and sustained weakness in local equities.